Shares of Integrated Industries are to be in focus when markets open today, i.e. on October 27, 2024, as the company has announced that it has provided a corporate guarantee to Union Bank of India as security for the loan facility availed by its subsidiary, Nurture Well Foods Limited.
Shares of the small-cap company had closed 0.52 per cent lower at ₹24.64 apiece on Friday. The small-cap multibagger stock has been falling lately.
However, Integrated Industries' share price has doubled its shareholders' wealth, giving whopping 2,980 per cent returns in the last five years.
In an exchange filing on October 24, the company said that it has issued a corporate guarantee to Union Bank of India as security for the loan facility availed by Nurture Well Foods Limited (NWFL).
The amount for the security for the loan facility stood at Rs 25 crore, as per the filing.
“We hereby notify that the Company has issued a corporate guarantee to Union Bank of India (“Lender”) for an amount of Rs 25 crore as security for the loan facility availed by Nurture Well Foods Limited, a material subsidiary of the Company from the Lender,” the filing said.
Meanwhile, benchmark indices Sensex and Nifty declined in early trade on Friday amid profit-taking after almost a week-long rally and fresh foreign fund outflows.
The 30-share BSE Sensex dropped 153.18 points to 84,403.22 in early trade. The 50-share NSE Nifty dipped 51.1 points to 25,840.30.
Both the benchmark indices hit their 52-week highs on Thursday.
Earlier on Friday, benchmark indices Sensex and Nifty declined on Friday amid profit-taking in FMCG and banking shares following a six-day rally and fresh foreign fund outflows.
Snapping its six-day winning streak, the 30-share BSE Sensex dropped by 344.52 points or 0.41 per cent to settle at 84,211.88. During the day, it fell by 599.25 points or 0.70 per cent to 83,957.15.
A total of 2,323 stocks declined while 1,853 advanced and 166 remained unchanged on the BSE.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
